Orchestra BioMed Holdings, Inc. (OBIO) – What Are Investment Firms Saying About This Stock?

Shares of Orchestra BioMed Holdings, Inc. (NASDAQ:OBIO) have received an average recommendation of “Moderate Buy” from the seven ratings firms that are covering the company, MarketBeat Ratings reports. One research analyst has rated the stock with a sell rating and six have given a buy rating to the company. The average 12 month price target among analysts that have updated their coverage on the stock in the last year is $13.17.

Several research firms recently commented on OBIO. B. Riley Financial raised their target price on Orchestra BioMed from $10.00 to $11.00 and gave the stock a “buy” rating in a research report on Tuesday, September 15th. Weiss Ratings upgraded Orchestra BioMed from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Thursday, September 10th. Piper Sandler reiterated an “overweight” rating on shares of Orchestra BioMed in a research note on Thursday, October 15th. HC Wainwright reissued a “buy” rating and set a $10.00 price objective on shares of Orchestra BioMed in a report on Monday, October 5th. Finally, Chardan Capital reissued a “buy” rating and set a $20.00 price objective on shares of Orchestra BioMed in a report on Friday, October 23rd.

Insider Transactions at Orchestra BioMed

In other Orchestra BioMed news, insider Darren Sherman sold 15,000 shares of the business’s stock in a transaction dated Monday, November 2nd. The shares were sold at an average price of $5.74, for a total value of $86,100.00. Following the transaction, the insider directly owned 1,104,402 shares in the company, valued at $6,339,267.48. The trade was a 1.34% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider David P. Hochman purchased 10,000 shares of Orchestra BioMed stock in a transaction on Thursday, September 3rd. The stock was purchased at an average price of $4.79 per share, for a total transaction of $47,900.00. Following the completion of the transaction, the insider owned 1,070,746 shares of the company’s stock, valued at approximately $5,128,873.34. This represents a 0.94% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Insiders have sold a total of 45,000 shares of company stock valued at $255,600 in the last quarter. 7.50% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of the company. Daytona Street Capital LLC grew its position in Orchestra BioMed by 27.7% during the 3rd quarter. Daytona Street Capital LLC now owns 123,148 shares of the company’s stock worth $744,000 after acquiring an additional 26,750 shares during the last quarter. HighTower Advisors LLC lifted its position in shares of Orchestra BioMed by 93.6% during the second quarter. HighTower Advisors LLC now owns 35,375 shares of the company’s stock worth $153,000 after purchasing an additional 17,100 shares in the last quarter. AXQ Capital LP acquired a new position in shares of Orchestra BioMed during the second quarter worth approximately $110,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC bought a new stake in shares of Orchestra BioMed during the second quarter valued at approximately $2,771,000. Finally, Bank of America Corp DE acquired a new stake in shares of Orchestra BioMed in the second quarter valued at approximately $103,000. Institutional investors own 53.20% of the company’s stock.

Orchestra BioMed Stock Performance

NASDAQ:OBIO opened at $5.62 on Friday. Orchestra BioMed has a 12-month low of $3.46 and a 12-month high of $6.50. The company has a quick ratio of 8.24, a current ratio of 8.26 and a debt-to-equity ratio of 1.80. The firm has a market capitalization of $337.79 million, a PE ratio of -6.61 and a beta of 0.56. The firm has a 50-day moving average price of $5.73 and a 200 day moving average price of $4.57.

Orchestra BioMed (NASDAQ:OBIO) last announced its quarterly earnings results on Monday, August 10th. The company reported ($0.38) EPS for the quarter, topping analysts’ consensus estimates of ($0.39) by $0.01. Orchestra BioMed had a negative net margin of 184.60% and a negative return on equity of 149.61%. The firm had revenue of $0.09 million during the quarter, compared to analysts’ expectations of $0.14 million. Research analysts anticipate that Orchestra BioMed will post -1.53 earnings per share for the current fiscal year.

About Orchestra BioMed

Orchestra BioMed Holdings, Inc is a clinical-stage biotechnology and medical device company focused on developing technologies for cardiovascular disease and other high-need medical conditions. The company uses a partnership-driven business model, collaborating with established medical device and healthcare companies to advance products through clinical development and toward commercialization.

Its lead program is BackBeat Cardiac Neuromodulation Therapy, an investigational bioelectronic treatment intended to provide sustained reductions in blood pressure for patients with hypertension.